Justin Sun Explains Tron’s (TRX) New Blockchain Network Governance System
The CEO and founder of the Tron Foundation, Justin Sun, has recently used Twitter to share his explanation of how the new Tron governance system will work. The explanation was originally aired at the Cryptochick on Bad Crypto Podcast.
Thanks @Rachelwolf00 and @badcrypto for this fun interview. It was my pleasure to share some stories on how I got into #blockchain, what motivated me to create @Tronfoundation, and how I think #ProjectAtlas will revolutionize content distribution! $TRX https://t.co/R0WT5EvOBC
— Justin Sun (@justinsuntron) November 29, 2018
During the podcast, the founder of Tron (TRX) has decided to explain how the new system works and has also given some insight on how the Super Representatives will be important for this new system. Justin Sun has affirmed that Tron’s main goal is the creation of a decentralized internet.
According to him, the brand new governance system will use a new Delegated Proof of Stake system. The system will be important because it will give everyone who holds at least one TRX token the right to vote and to participate in the governance of the Tron ecosystem.
He explained that proof of work, the mining system used by Bitcoin (BTC) and many other tokens, is the first generation of blockchain governance. This was adopted by Bitcoin, Ethereum (ETH) and even Tron originally used it. Ethereum also used it and promised to use a proof of stake system, but that wish has never actually been the truth.
With this new system, however, Tron choose their own Super Representatives. They were elected like it is a democratic election, as holders were able to vote in who they liked more. According to Justin Sun, SRs represent the whole network and their voters.
Sun believes that this is, actually, a very good system, because it ensures that everything works in a decentralized way and solves any centralization issue as the Super Representatives are spread around the whole world and they work in many industries like exchanges, games and even he is an SR.
The Super Representatives
According to Justin Sun, the Super Representatives have many functions. For instance, they are validators on the Tron blockchain and they act the same way miners do in a proof of work network. They are basically the trust nodes of the Tron Network and their work is essential for the network to continue to be working well.
They also have a second political function, which is to help the network to govern itself. According to Justin Sun, it is just like the Congress, so the SRs are just like congressmen. They have to talk to a lot of people inside the industry and oversee it so that the Tron network can achieve the best possible results.